A Quick Guide to Dogecoin

By Aleksandra Wilson
2 min read August 2, 2021

What is Dogecoin?

Also known as “DOGE,” Dogecoin is a digital open-source currency that is based on the Internet meme featuring a Shiba Inu. It’s an entertaining, enjoyable cryptocurrency with a greater allure as it is based on a meme of a dog.

How Can It Be Mined?

In many ways, it is different from the usual proof-of-work protocol of Bitcoin. One of these differences is the use of Scrypt technology. The total supply of the altcoin is uncapped, which translates to there not being a limit to the amount of coins that can be mined. A participant can mine on Mac, Linux, or Windows.

About the Creation of The Coin

It was released in December 2013, initially as a joke to make fun of the constant growing speculation everywhere about crypto at the time. Its creators, Billy Markus and Jackson Palmer, software engineers, promote the currency as a “fun and friendly internet currency” because of its origins. Another key participant in the growing success of the coin is the CEO of Tesla, Elon Musk, who constantly mentions it or talks about it. He mainly does it on his Twitter account, which makes it more prevalent in a significant way. After posting on social media that this is his preferred coin, the currency became popular.

What Can I Use Dogecoin For?

So far, it has been used to tip people producing or sharing content of quality. It is possible to tip Dogecoin to a group of people that uses cryptocurrency. There are websites called “faucet” where you could get some Dogecoin for free. This to interact with Dogecoin groups or communities.

How Can I Buy It?

It is possible to buy or sell it at any trade where digital currency is available. Also, to save it in a wallet for Dogecoin. Also, through communities in which it is accepted.

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